Analyst: Gold and Silver May Reach $5000 and $90 in 2026

Golden Finance reports that spot gold touched a record high of $4530.6 per ounce on Friday, and spot silver briefly hit a historic high of $75.14. Kelvin Wong, Senior Market Analyst at OANDA, stated that since early December, momentum-driven and speculative traders have been pushing gold and silver higher. The combination of thin liquidity at year-end, expectations of prolonged Fed rate cuts, a weakening dollar, and escalating geopolitical risks has driven precious metals to new record highs. In the first half of next year, gold could approach $5000 per ounce, while silver has the potential to reach around $90 per ounce. Additionally, platinum and palladium have surged due to tight supply, tariff uncertainties, and rotation in gold investment demand, with platinum up approximately 165% and palladium up over 90% so far this year. Jigar Trivedi, Senior Research Analyst at Citic Securities, said that platinum is supported by strong industrial demand, and U.S. stockpilers have been replenishing inventories amid concerns related to sanctions, helping to sustain high prices.